Right now on the russia controversy. Well go there live in a few moments. Major banks out with earnings. Jpmorgan with a quarterly beat stronger loan demand offset a decline in trading revenues. Citis results also above consensus, helped in part by lower costs and better than expected trading revenue they both mentioned brexit a year ago, jim. Really helped trading and yearonyear comp is tough joe asked me earlier which is better and i went with citi no slight to jpmorgan, their quarter was excellent, too theres fantastic growth how about this statistic you know that jamie dimon bought back 4. 5 billion worth of stock, even though the stock is up at 97, scitigroup had every line item better than expected citi gave what was considered an analyst day. And i sat down with mike korbat, the ceo on analyst day, skpeman everyone told me, pie in the sky, he exceeded everything that he said. It is a best in show situation theyre buying back 60 billion worth of stock walmart buys back 20 million
Carl quintanilla with jim cramer a solid open as we watch more good Bank Earnings and consumer inflation that is a touch cool 10year core cpi runs 1. 7 year on year. Wells fargo with earnings, does it point to a strong season of corporate results . Tech policy head winds, the fang stocks are set to open higher. Amazon and alphabet above the 1,000 mark and 21st century fox down in the premarket following the drag from comcast and direct v owner at t bank of america better than expected as improved lending activity and higher rates offset weaker trading revenue and wells beats on the bottom line but revenues miss and that stock is lower as we watch efficiency ratios. Wfc, wells does a pretty good job of not talking about the issues that beset wells fargo. I will say in their defense, there was not a decline in average deposits, up 4 . People are not fleeing wells fargo. Bank of america has become the bank that i always thought it would be, the consistent bank where you can put a price to
Premarket. Microsoft and intel are moving lower. Weve got a first look at the economy under president trump. It was a weak First Quarter, the question of course is has growth picked up since then. Starbucks out with results, the stock is slipping. A live and exclusive interview with Ceo Kevin Johnson and now chairman Howard Schultz. On the tech earnings front, amazon as you may know by now surpassing forecasts, getting a lift from the Cloud Business. Alphabet also above consensus as mobile search helped to drive ad sales higher. Microsoft and intel beat on the bottom line, but miss on the top line. Jim, theres a lot to get to last night. Last night was incredible to listen to not to the amazon call because amazon said, our cash flow is fabulous. All true. But the alphabet call was about how were not a Search Engine company thats driven by advertising although our advertising is up 50 . They said over and over again as we talked about earlier this week were cloud, were cloud, were cloud
The pessimism, its palpable, especially for me over the weekend. When the bears always seem to come out of the woodwork and start attacking me, makes you wonder how the market can hang in there with the dow gaining 61 points today, another alltime high, the s p closing down, the has dak ncaa declining the linkage between a dysfunctional washington they know nothing and what amounts to a roaring, rotating bull market. This weekend i found myself in a complicated position after the Senates Health care debacle, ive been bearish on washington all that scaramucci, the mooch drama, it hasnt helped. Friday was the last straw for me we interviewed the manager of the office of manage and budget. Given this administrations track record when it comes to passing legislation, im skeptical that anything can get done i found myself begging him to go for an easy win and focus on repatriation of capital overseas, which would be easy to pass at first, i think mulvaney misunderstood me and thought i was
The investors are watching for signs of trump progress. And apple is up 24 in the first three months of the year. The best gain that stock has had in five years. And musk for the win. Tesla delivered a record 25,000 cars. Were others able to keep the pace . First up, despite the dow and s p snapping four month win streaks in march investors have reason to smile. Dow and s p each extending the quarterly winning streaks to six while the nasdaq outperforms both in q1 with a 9. 8 gain. April, jim, is seasonally strong. Havent had all three down since 05 in the month. Well get earnings. I think the industrials which have kind of plateaued, the banks, are going to be up first. For the most part if you get the dollar to stay weaker, you hear about International Orders i dont know if anyone saw that european pmi, but europe is strong. They could lead a lot of the industrials. Asia better. But i think that were going to start off coming in hot for earnings season. I think we a lot of companies